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cities. siemens. answers. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. all on thinkorswim. (music throughout) why turbo? trust us. it's just better to be in front. the sonata turbo. from hyundai. >>> forget washington's fiscal woes. our next guest says that there's a new risk to the country's economic health, and it all has to do with the fed's balance sheet and the low rate policy it's had for a number of years now >> indeed. he's columbia university's rich mishkin. >> welcome back. >> lots of focus today on the fed minutes that came out earlier on today. what was your read on the fed? i mean, the market is taking them as hawkish. is that the correct way to read it? >> i think that there's some concerns that have been raised in both the minutes and actually we've seen in recent speeches which are a little bit more hawkish. there are
grid, and that in other countries, cyber attacks have plunged entire cities into darkness. >> president obama didn't say which country had been plunged into darkness by computer hackers, but we found out. it was brazil. we also found out that hackers have been infiltrating everything from our defense networks to the financial systems. bank robbers are now stealing more money with computers than they are with guns. >> this map is showing a visual representation of where all of the known infections of conficker are across the world. >> computer analysts say it's like a sleeper cell, and it may be poised to suck sensitive data out of millions and millions of computers. >> it takes time to read the manuals. i'm gonna save you that time. 'cause i stay home on saturday nights and read them for you. >> you and the rest of the geeks? >> there's millions of us out there. >> everybody, let's hear it! geek squad! [cheering] >> welcome to 60 minutes on cnbc. i'm steve kroft. in this edition, we take a look at technology. we examine how breaches in digital security threaten everything from weapons s
threatening situation. already, national weather service posted blizzard warnings from new york city to hartford, boston, up to portland, maine. this is going to be a big storm. it is starting off as two storms. one to the north, one to the south here. they're going to come together, one with the cold air, one with a lot of moisture and develop, really get cranking during the day, into the evening on friday, this is how it plays out. not quite together yet and then in the evening, things are really going to go downhill. heavy snow, this does include new york city, 95 to boston. the storm now as one overnight friday into saturday. and it's still going to be hanging in there saturday evening for parts of new england. when it's all said and done, so than two feet of snow. and it's possible new york city and long island, foot, maria, maybe a foot and a half. >> all right, chris. thank you so much. we have to gear up for that. appreciate that. my thoughts on a potential trouble spot for the markets. that's next in observation. stay with us. with fidelity's new options platform, we've comp
about. solar city i have to do work on. you know, it was my birthday recently. my kids said happy birthday, you ought to get a solar panel. it's like solar circuit, like circuit -- i don't want to do that, but hoar about party city? that's not there, either. but i will tell you that i think the solar city is on to something. if you can get money to put a solar panel on and cut my electric bill, you would be plenty happy. >>> matt in texas, matt? >> hi, jim. boo-yah from austin. >> man, austin, we had such a great time when we were in austin, at u.t. it was fantastic. what's up? >> caller: hey, i'm a longtime -- despite, due to -- medicare is a small book of business, which is down over 6%. do you think you have strategy, and in particular international expansion are enough to offset -- >> no, no, these stocks open down and down big. you get this medicare advantage, and they're get to cut it by that much, the stocks will be for sale. there's so many others, take the money out, buy -- you know, that's what's going to happen. anyway, some might be tempted to fight the tape. i know my
a successful american business and wiped out thousands of jobs. >> i was educated here, wilmington city schools, and then at wilmington college. >> and now you're the mayor. >> and now i'm the mayor. there were 576 hourly employees. >> for months, mayor david raizk has been getting layoff notices. by federal law, companies have to notify local government when layoffs are coming, and raizk is getting a new letter from dhl every week or so adding a few hundred at a time to the growing list of lost jobs. >> it's got classifications and numbers on it, but there's not names and addresses and who their wife or their family or their children are, and so you look at these, and at the end of the day, you think, "that's 800 and some people, folks, live here, work here, you know?" >> the mayor told us one out of three households has a family member working at the air park. you are what people around here call an air park family. >> absolutely. >> angela and john peka are raising four children on two air park salaries. angela started at airborne express when she was 19. now as a supervisor, she walks laid-
private partnership in the cayman islands. he happened to invest in partnerships when he was at citi, and they happened to be based there. >> in romney's case he set them up down there? >> no, he didn't. i was not making -- i never made the cayman islands argument to you ever. >> oh! about romney? >> i never did. go back and check the tapes. never. >> i don't think he ever did. >> i think -- >> i don't think he did. >> in general, just the whole perception. now al gore's got more money, a lot more money than romney, as you know. you think that's in the cayman islands? >> he's not filthy rich. no, that's somewhere safe, the lea -- the middle east. >> as the ocean washes across the country, it's safe, probably in gold. >>> in the markets, the futures are fight slightly higher. yesterday the dow was up by 47 point. the s&p up by two. as patty dawn points out, the nasdaq has been the big issue. it was actually down yesterday by five points. it has not closed above the 3,200 level that so many had been watching closely. some say in order to see the s&p 500 and the dow break out to new hig
with their foams and cameras that showed the bags in question, the tent city in question. people who had a room with an actual window were much happier. we interviewed some of those folks last night. it wasn't as hot or smelly in their room. they were probably on an upper deck, so depending on where you were on the boat, as always. 100 buses were waiting last night to either new orleans or to galveston, which is where the boat originally disembarked from. there's going be about a dozen charter flights today by delta to get everybody home. back to you guys. >> all right, mcc, thank you. we want to hear from you, if not on a cruise ship, where would you rather be stuck? what would a better place to be rather than on a cruise ship? >> how about right here at work? >> right here at work? >> filling in for andrew ross sorkin. >> filling in for andrew ross sorkin. it smells fine in here right now. you showered this morning? i did, too. it's friday. so i did, as well. it's underwear change day, shower day, everything else. >> once a week you shower? >> is that tmi? no, no. when we were out in pebble,
are now powering some of america's biggest cities. siemens. answers. you are gonna need a wingman. and my cash back keeps the party going. but my airline miles take it worldwide. [ male announcer ] it shouldn't be this hard. with creditcards.com, it's easy to search hundreds of cards and apply online. creditcards.com. reminds me of our network before cdw virtualized it. how? cdw and hp networking implemented a virtual application network that reduces the time to deploy cloud applications from months to minutes. with fewer bottlenecks like this. finally. charles! client golf. aim for the lake. really? >>> a penny for your thoughts on this one. president obama gave his two cents on the fate of the penny saying he's open-open to the idea of getting rid of the copper coin. the president says it costs more for the government to make a penny than it's actually worth. the mint says it costs nearly it.5 cents to produce and distribute a single penny. tell us what you think on that one. >>> meantime, let's take a very quick look at what's happening with the markets. the dow is down by 0.3%
, new york city comptroller john lear. >> how things are doing midday when the minutes of the fed's recent meeting eyeing the punch bowl. that spooked the market. the selling is intensifying when commod dids have been down sharply. dow down 76 the low of the special. down to 13,959. the nasdaq down over a percent, about 35 points at 3178. that was a 12-year high yesterday. and the s&p is back below 1525, a number a lot of traders keeping an eye on. down 14 points at 1516. will we see long-await all-time highs later this week? he asks. where did that come from. today's closing bell exchange, my old friend, kenny, and bob pisani joining us as well. frank, you're a big technical analyst and watched the charts and worried about market going higher as a lot of people. is this the beginning of a sell-off here, do you think? >> bell, actually i think your question is extremely well-timed. if you look at the s&p over the last few months, we've traced out a large rising wedge formation which is a five-wave structure, and that's a bearish distribution pattern. now over last few days, we've
large cities were lined with gaming establishments called bucket shops, where people could place wagers on whether the price of stocks would go up or down without actually buying them. this unfettered speculation contributed to the panic and stock market crash of 1907, and state laws all over the country were enacted to ban them. >> big headlines, huge type. this is the front page of the new york times. >> "no bucket shops for new law to hit." >> so they'd already closed up, 'cause the law was coming. here's a picture of one of them. and they were like parlors. see? >> betting parlors. >> betting parlors, yeah. >> it was a felony. well, it was a felony when a law came into effect, because it had brought down the market in 1907. and they said, "we're not gonna let this happen again." and then 100 years later in 2000, we rolled them all back. >> a bill to reauthorize and amend the commodity exchange act to promote... >> the vehicle for doing this was an obscure but critical piece of federal legislation called the commodity futures modernization act of 2000. and the bill was a big favorite
city. long time fan. >> i appreciate it. >> caller: h u.n. >> buy, buy, buy. >> go to john in florida. >> caller: jim, i would like your latest take on arena pharmaceutical. >> at jim cramer on twitter, because i didn't fall in love with this sto, a lot of people despise me. i know people are in love with it. i am not in love with it. carl in arkansas. >> caller: greetings from arkansas. i am thinking of picking up a bank stock, your thoughts of new york community bank. >> it is so much higher than all the others, i will send you to keen. i don't know, it is a nice gain. i prefer key. i like the safety. that, ladies and gentlemen, is the conclusion of the lightning round! >>> coming up, allergra catapulted in 2013. botox smoothed out wrinkles for their results. are shares heading high sner cramer talks to the ceo, just ahead. [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade
. the cold is what's moving in here. dangerous windchills, 15 the below sfee row in the twin citys, 1 is in chicago and 13 in indianapolis. lots of layers for all the kids who are going back to school today. then we catch our next storm, this little pin wheel around the oregon coast. this will dive down around california today and is be a pretty big snowmaker. coast to coast, 6 to 12 inches in the snowfall mountains. plenty of snow here around the wasatch. these amounts in the appalachians, on the order of 1 to 3 inches today 37 back to you guys. >> beck can he can't believe what she just heard about that cold weather. eric, they're melg me, you didn't know it was 25 degrees. >> it's warmed up in minneapolis since earlier today. >> such balmy weather. >> it's like, i've known this, right? >> we're here to educate. >> eric, i rely on the weather channel. tell us something, andrew -- >> he did. he just told me it's 2:22 in nairobi. >> you need singapore time? >> you know what else? the clock when you put them all in, andrew, am i right? if it's nice, the clocks are dark. if it's daytime
put. >>> back over here, citi's chairman is not seeking a break-up of the bank. a story in today's wall street journal says michael o'neill was among those encouraging investors not to break up the bank. he is backing abroad cost cutting plans, but exploring a break-up is no longer said to be among his top priorities. >>> and top equity firm sports ing represents tennis players and lots of people including super model giselle bundchen. back in the day owned roger federer. the decision to sell has been driven by the trustee who own tess state of the former ceo and chairman. peemp say it could fetch mother than $2 billion, but there's a huge fight going on among the banks out there to represent this yield and so many of them thought they had the end because they had been with teddy for so long. they were friends with teddy, the trustee who runs this process. only knew teddy for the last two years of his life. so there are banks and bankers who said i've been blanking with him for 20 years. he was my best friend. i promised i would get the deal. but everybody is there and now there'
of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. >>> happy valentine's day. americans will spend $18.6 billion to express their love. men tend to spend more, $176, while females spend on average $89. wow. big business. joining us know is the owner of rennie and reed forest. reed and angus, hello and welcome to you both. happy valentine's day, i should say. reed, how big a day is it for you and what are some of the more unusual requests you tend to get? >> it's a big day. whether it's the weather or whether it's clientele, we had an order yesterday for a 1,000 rose arrangement, which we'll be sending out first thing this morning. this is an individual we see a couple times throughout the last three years and it keeps us on our toes. >> i see you have the low ask lush. i thought that was something that happens at the end of valentine's day. apparently it's a mixed floral. it's popular. are guys any good at this, reed? how much are they spending on average this year compared to five years ago? >> guys are good at it because their hear
in a position -- it's been a pretty awful episode for the city of london, a lot of big advisers, jpmorgan, credit suisse, some of the lawyers, price waterhouse coopers, a lot of people who are on the board of bumi, all of them have tarnished reputations as a result of this scandal. >> whose fault is that? >> that's a good question. and there's still a bitter takeover by the panel going on as to exactly who knew what when the fundamental issues about funds that have gone missing from the company before it was brought to the london market. >> and nat rothschild has a lot of complaints about that money. the question is whether he knew about it before he brought this company to the london market, anyway. >> he calls the current management team a disaster. the company is uninvestble. we have to get out the cancer, he says. >> bumi has made a lot of commitments as to what they will do if this vote is won. they certainly sent a message that the current chairman will step down, the backrie family have offered to buy out half the company in return for their own shares in bumi. so in theory, at lea
of america's biggest cities. siemens. answers. >>> italy's mario montanaty is calling on the candidates to appear in a televised debate as he's struggling to gain ground in his first ever campaign. jules is in milan. anybody nibbling at his debate idea, jules? >> well, what we've seen is that he's in fourth place behind berlusconi, behind the comedian becky grillo and wind the man that's most likely to win right now, mr. bersani of the democratic party. but i think the important thing to point out here is there's still a third of voters out there that haven't made a decision, in part because of the scandals we've had in the last few months making it difficult for people to decide. for mario monti's point of view, it can't hurt. berlusconi came out immediately and said he's not willing to face mario monti. he doesn't want questions on his economic policy. but one of the things that gets banded around here is if he's more interesting in addressing his legal issues. you know, my accepts from that is that actually, despite what's going on in the markets, the relative calm appearance right n
is great company. i don't own it at the moment. i really like citi and bank of america. i like the investment banks and the small investment banks as well >> you think we'll get some dividends, anton? >> i think everybody is increasing already. already got amountment out of comerica and bbmt so we'll continue to get dividend increase. >> jamie dimon said that's the plan, we'll raise the diffidents so he shuttinged the buyback might be smaller than a year ago. fred, break it down for us. what do you like in terms of the bank stocks, and what do you want to avoid here? >> the ones from the beginning of the story, never will they get back to the pre-peaks. the reason why we won't get to the pre-peaks is the big issuance during the crisis. what do we have the best outlook for and that's restructuring. going forward that's citigroup. our number one pick in that space. looking away, this interest rates environment is tough on earnings. at anton say, looking for capital higher rates. we'll bev it there. thanks for having you on the prom. bank stocks long a lowered for this market. see
in spain and a little bit more noise, but if we look at city surprise index in terms of european surprises, it's off the charts. it's printed to 70, so all in all we think that the global markets are healing and china is getting better and europe is getting better and greece is off the table and draghi will speak this week. >> right. >> things continue to be positive. >> mike -- >> i'm not sure china is getting better. >> you don't think china is getting better. >> just look at yum earnings. >> according to bmi china is getting better. >> expectations are too high. just for what it's worth in china. >> all right. let's -- >> how about europe? mike, does europe become front page news again? where are these markets? a couple of cat lifts on the horizon, italian elections and debt coming due for spain? >> what we saw yesterday is that the threshold is pretty low for people to start getting nervous again about europe because we don't have the depth of confidence that the european central bank is really all in and means the same thing that it means over here with the fed, so i do think there's
, the megabanks, especially city and b of a have not performed well, even going back before the crisis, trading at significant discounts to tangible book value. so where the government could play a positive role is getting more information out to investors so they can decide maybe the economically best solution for this is a market-driven breakup, but right now it's very difficult again the inadequate disclosures to see how profitable each business line is because the mega banks don't allocate their capital expenses according to their business line. so i think the government has probably not looked at that as much as they should, and we need to get market information out. i think the market can provide a much faster solution than government, but you're right. they are still continuing interest in congress on some type of size limit or breakup proposal. >> i guess, isn't it difficult to see a different, you know, setup in europe than the u.s.? i mean, do we need a global standard? >> yeah. >> is it even logical to think that we have one standard across the world? >> well, i think that would be y
of america's biggest cities. siemens. answers. but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. investor. yeah, i'm a serious investor but i'm a busy guy. it used to be easier but now there are more choices than ever. i want to know exactly what i am investing in. i want to know exactly how much i'm paying. i want to use the same stuff the big guys use. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> welcome back. we're now in
stroll in sunny, warm san diego, america's finest city. >> the dats. i like the dats. go ahead. >> caller: i'm a financial adviser and long-time viewer who pleasure what you do to educate and motivate investors. >> thank you. >> caller: i was wondering if you would share what your objective criteria are for investors to use in determining best of breed. thank you. >> i've got to tell you, best of breed, i always start with record dividends. then i go to how a company's done consistently in good and bad times. and yes, for best of breed, i actually look at the product itself. is the product something i'd want to use? is it a bank i'd want to go to? is it, to use the danny meyer phrase, the great restaurateur, is it the one that is most hospitable to shareholders? anyway, new diversification, it's important. it's what we're preaching tonight. make sure your portfolio is home a high yielder. okay? you need a growth stock. you need a special -- you know what? a spec and then you need geographically safe area for one of them. i'll each you all about how to pick the best ones. i want you to be
. some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. [ male announcer ] to hold a patent that has changed the modern world... would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. ♪ to hold over 80,000... well that would make you... the creators of the 2013 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >>> welcome back. mary thompson is stepping in now with some breaking news on that fight between greenlight capital and apple. mary. >> reporter: that's right. it's a victory for david einhorn's greenlight capital. judge richard sullivan ruling in favor of greenlight capital. einhorn had sought to block shareholders from voting on proposal two of apple's proxy. the judge basically granting that injunction, and had a this means is that apple is blocked from allowing share holders to vote on whether or not the firm should issue pref
cities. answers. >>> if the housing market is coming back, then you know that i think that the housing theme cannot be denied. despite the doubts that cropped up mid-week about this sector. and if the banks are making more loans, and you know i think that can't be denied, specifically residential mortgage loans, another one of my favorite themes for 2013, which i did not abandon during the week, then how about we talk about a crazy idea for speculation friday? how crazy? you know what? i think this housing rebound is so robust that it's time to consider buying a mortgage insurer. albeit only for speculation. this is speculation friday. and the one i've got my eye on is -- radian group. rdn for all you home gamers. the stock i told you years ago you had to get out no matter what. the mortgage insurance companies, as you might expect from the name, write insurance policies on mortgages that compensate lenders or investors if the borrowers default on the loan. so let's say you take out a loan to buy a house and put down 15%. the bank is required to go to the federal housing administration
in the marketplace. add it that explosion at head quarters in mexico city, that's another factor that traders are launching. we haven't seen significant gains in the u.s. oil price because we have pipeline concerns that pipeline taking crews from oklahoma to texas coast. that probably won't be a full capacity until the fourth quarter. that is something that leaves still that glut of oil in the middle part of the country that is something that kept a lid on the rise in the u.s. oil price. in terms of precious metals, it has been a strong day for precious metals after the jobs data and that unploemt rate is what traders are watching. one reason they think precious metals. >> so what has happened to the individual investor over that time? jane wells is in los angeles. jane? >> hi, tyler. you think of americans as being resilient and optimistic. we found more than a few who said they survived the last few years by thinking of warren buffett. the view from main street when we come back. [ male announcer ] with citibank it's easy for jay to deposit checks from anywhere. [ wind howling ] easier than
small trading companies around the world, some based in cities right here in the united states. >> are you a procurement agent for iran? >> [chortles] no, that's ridiculous. no. >> but of course that's sort of the implication of the case against you. >> i'm nothing to do with iranian government or things like that at all. >> mohammad vaghari, mitch to his friends, an iranian who's lived in the united states for 15 years, is facing up to 85 years in prison. he and his lawyers are preparing for his trial on charges that he conspired to send u.s. technology to iran through a trading company he set up in his basement apartment in philadelphia. you are charged with trying to buy a centrifuge that could be used to make biological weapons, like anthrax. >> i don't know about that. i'm not a biological expert to tell, you know-- >> that's in the affidavit and is part of... >> sure. >> the charges against you? >> yes. that's what they say. >> he says his client for the centrifuge was a science lab at a university in dubai. but he says he never bought it. he only asked for its price. >>
thought he was impeccable -- i mean. >> he was at citi for awhile. >> he was at sit ty for like two years or something. we're not talking about a lot of time. >> some of these things were when he was at the university and the questions are about what they paid him and it hasn't been -- >> there are different standards applied -- >> again you are shocked that in washington people take sides that they're on? >> it doesn't seem to bother anyone in the media, though, except for "the wall street journal." i don't see "the washington post" carping. i don't see your paper carping. >> i've read a lot of it. >> not "the new york times." >> "the washington post" has done some -- >> they have a great -- what's her name? she's great down there, rubin? i mean she's -- she stands out. >> but he's -- look, he's -- he was a career technocrat for the most part. >> i know. >> and with the exception -- >> these are your selling points for why he'd be a great -- >> look i'm not going to make you that argument. i'm going to make you the argument that the stuff at happened at citigroup is like a rare intermiss
expected. what's it mean? joining us is metals and mining analyst at citi. john, how important are these earnings for barrick gold? >> they are important because the problems of 2012 are continuing into 2013. the company's difficulties with the available of power in tanzania and they're about to use diesel power in one of their mines which pushed costs up to $1,000 an ounce. during a strike in 2012, part of the equipment froze up and jammed up. it will take a few months in 2013 to fix up. so the company has guided down significantly for 2013 compared to what analysts were expecting. >> is that a play where you look then at rivals and see them benefiting, or is it pretty much a warning sign for everyone operating in this space? >> no. i think most of this is very company specific. barrick operates at guidance, cost of above $1,000 an ounce for 2013. most of the u.k. gold is at $750, $800 an ounce. and barrick cost shot up sharply in the past few years. again, company and country specific because of the issues they've faced with the power. they've also faced social issues around
Search Results 0 to 26 of about 27